Important update to our affordability calculation

On Friday 9 March, we’ll be updating our affordability calculation. We’re also improving our lending criteria for remortgages with debt consolidation.

Debt consolidation

We’re making some improvements to our lending criteria for remortgages with debt consolidation:

  • Increasing the maximum LTV from 75% to 85%
  • Increasing the maximum amount from £35,000 to £50,000
  • Removing the 35% limit on loans above 50% LTV which means this will no longer apply.

Pipeline rules for these changes

All full mortgage applications (FMAs) already submitted on Introducer Internet by 9pm on Thursday 8 March won’t be affected and will continue to be progressed on our existing residential lending policy.

Any FMAs submitted from 6am on Friday 9 March, or where a material change is made to an FMA submitted before 9pm on Thursday 8 March, will be assessed using the new residential lending policy.

Further help and support

The affordability calculator has been updated to reflect these changes as well as our website and lending criteria.